This statistic presents the results of a survey on Australia's perceived and actual economic ranking among the world's top 200 countries as of October 2018. According to data published by Ipsos, respondents in Australia underestimated Australia´s global economic ranking. On average, the respondents thought that Australia's GDP ranked number 30 among top 200 countries, when actually Australia ranked number twelve in the world.

The Gross Domestic Product (GDP) in Australia was worth 1752.19 billion US dollars in 2024, according to official data from the World Bank. The GDP value of Australia represents 1.65 percent of the world economy. This dataset provides - Australia GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The statistic depicts Australia's gross domestic product (GDP) from 1987 to 2024, with projections up until 2030. In 2024, GDP in Australia amounted to about 1.8 trillion US dollars. See global GDP for a global comparison. Australia’s economy and population Australia’s gross domestic product has been growing steadily, and all in all, Australia and its economic key factors show a well-set country. Australia is among the countries with the largest gross domestic product / GDP worldwide, and thus one of the largest economies. It was one of the few countries not severely stricken by the 2008 financial crisis; its unemployment rate, inflation rate and trade balance, for example, were hardly affected at all. In fact, the trade balance of Australia – a country’s exports minus its imports – has been higher than ever since 2010, with a slight dip in 2012. Australia mainly exports wine and agricultural products to countries like China, Japan or South Korea. One of Australia’s largest industries is tourism, which contributes a significant share to its gross domestic product. Almost half of approximately 23 million Australian residents are employed nowadays, life expectancy is increasing, and the fertility rate (the number of children born per woman) has been quite stable. A look at the distribution of the world population by continent shows that Australia is ranked last in terms of population and population density. Most of Australia's population lives at the coast in metropolitan areas, since parts of the continent are uninhabitable. Unsurprisingly, Australia is known as a country with very high living standards, four of its biggest cities – Melbourne, Adelaide, Sydney and Perth – are among the most livable cities worldwide.

Historical chart and dataset showing Australia GDP by year from 1960 to 2023.

The average for 2024 based on 10 countries was 62 index points. The highest value was in New Zealand: 78 index points and the lowest value was in Papua New Guinea: 49 index points. The indicator is available from 1995 to 2024. Below is a chart for all countries where data are available.

In financial year 2019, Sydney accounted for the largest share of GDP of any other city or region in Australia, with a value estimated to be over 461 billion U.S. dollars. Australia's second largest city, Melbourne, also contributed the second largest share of GDP.

The Gross Domestic Product per capita in Australia was last recorded at 61211.90 US dollars in 2024. The GDP per Capita in Australia is equivalent to 485 percent of the world's average. This dataset provides - Australia GDP per capita - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The average for 2023 based on 11 countries was 14570.03 U.S. dollars. The highest value was in Australia: 64820.91 U.S. dollars and the lowest value was in the Solomon Islands: 2041.64 U.S. dollars. The indicator is available from 1960 to 2023. Below is a chart for all countries where data are available.

In 2023, agriculture contributed around 2.57 percent to the GDP of Australia, 27.65 percent came from industry, and 63.57 percent from the services sector. The same year, the Australian inflation rate, another important key indicator for its economic situation, amounted to 2.82 percent. Why is the inflation rate important?Inflation is the steady increase in price levels for consumer goods and services during a certain timespan. The European Central Bank considers a steady inflation rate of two percent a year beneficial for a stable economy – otherwise a country risks economic hardship. In the worst case, a country can experience either hyperinflation (like Venezuela), which is the rapid increase of prices to a point of economic collapse, or deflation, which is the decrease of prices and devaluation of money that can also lead to economic collapse. Up and down under Australia’s inflation has been clawing itself out of a slump in 2016, when it unceremoniously dropped to 1.25 percent due to falling petrol costs and oil prices. The following year, it recovered instantaneously and soared back to just under two percent, and forecasts see it reaching 2.52 percent by 2021. Australians don’t seem too worried about this outlier, and rightly so, since Australia’s economy is still one of the biggest in the Asia-Pacific region and worldwide.

The Gross Domestic Product (GDP) in Australia expanded 0.20 percent in the first quarter of 2025 over the previous quarter. This dataset provides - Australia GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The average for 2023 based on 11 countries was 0.18 percent. The highest value was in Australia: 1.65 percent and the lowest value was in Kiribati: 0 percent. The indicator is available from 1980 to 2023. Below is a chart for all countries where data are available.

The average for 2025 based on 12 countries was 2.99 percent. The highest value was in Palau: 5.74 percent and the lowest value was in Micronesia: 1.09 percent. The indicator is available from 1980 to 2030. Below is a chart for all countries where data are available.

The statistic shows the growth rate of Australia’s real GDP from 2020 to 2024, with projections up until 2030. In 2024, GDP in Australia grew by about 1.04 percent on the previous year.The recession-proof land down underGDP is one of the primary indicators used to gauge the state and health of a country’s economy. It is the total market value of all final goods and services that have been produced within a country in a given period of time, usually a year. GDP figures allow us to understand a country’s economy in a clear way. Real GDP, in a similar vein, is also a very useful indicator; this is a measurement that takes prices changes (inflation and deflation) into account, therefore acting as a key indicator for economic growth.The gross domestic product (GDP) growth rate in Australia has, for sometime, been able to get a steady foothold in the somewhat shaky post-recession world, shaky, but far from catastrophic. The annual growth rate between the 2008 and 2009 financial years, for example, a time at which the world was brought to its proverbial knees, saw growth rates down under reach to 2.49 and 1.37 percent respectively on the previous years, whereas the GDP growth rate in the United States plummeted well into the minus zone. Australia, like all other capitalist nations, is at the mercy of international markets, and when the world economy takes a hit, it would be foolish to suggest it could emerge fully unscathed. However, Australia has earned some much deserved praise and attention owing to the fact that it has managed to remain recession-free for the past twenty years. This could be thanks to its abundance of raw materials, the Australian mining boom, the fact the recession came at a time of high commodity prices and, maybe most importantly, that just under a third of its exports go to China.

Australia GDP per Capita: New South Wales data was reported at 97,310.000 AUD in 2024. This records an increase from the previous number of 94,449.000 AUD for 2023. Australia GDP per Capita: New South Wales data is updated yearly, averaging 52,047.000 AUD from Jun 1990 (Median) to 2024, with 35 observations. The data reached an all-time high of 97,310.000 AUD in 2024 and a record low of 25,671.000 AUD in 1990. Australia GDP per Capita: New South Wales data remains active status in CEIC and is reported by Australian Bureau of Statistics. The data is categorized under Global Database’s Australia – Table AU.A167: SNA08: Gross Domestic Product and Gross Domestic Product per Capita: by State.

Australia GDP: Growth: Gross Value Added: Industry data was reported at 2.558 % in 2019. This records a decrease from the previous number of 2.789 % for 2018. Australia GDP: Growth: Gross Value Added: Industry data is updated yearly, averaging 2.325 % from Jun 1976 (Median) to 2019, with 44 observations. The data reached an all-time high of 8.371 % in 1988 and a record low of -4.283 % in 1983. Australia GDP: Growth: Gross Value Added: Industry data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Australia – Table AU.World Bank.WDI: Gross Domestic Product: Annual Growth Rate. Annual growth rate for industrial value added based on constant local currency. Aggregates are based on constant 2010 U.S. dollars. Industry corresponds to ISIC divisions 10-45 and includes manufacturing (ISIC divisions 15-37). It comprises value added in mining, manufacturing (also reported as a separate subgroup), construction, electricity, water, and gas. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted average; Note: Data for OECD countries are based on ISIC, revision 4.

Government Effectiveness: Percentile Rank in Australia was reported at 93.87 % in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. Australia - Government Effectiveness: Percentile Rank - actual values, historical data, forecasts and projections were sourced from the World Bank on June of 2025.

Australia GOI: Weighted Rank data was reported at 11.000 NA in 2019. This records a decrease from the previous number of 13.000 NA for 2018. Australia GOI: Weighted Rank data is updated yearly, averaging 13.000 NA from Dec 2017 (Median) to 2019, with 3 observations. The data reached an all-time high of 14.000 NA in 2017 and a record low of 11.000 NA in 2019. Australia GOI: Weighted Rank data remains active status in CEIC and is reported by Milken Institute. The data is categorized under Global Database’s Australia – Table AU.Milken: Global Oportunity Index.

Australia is the 10 least corrupt nation out of 180 countries, according to the 2024 Corruption Perceptions Index reported by Transparency International. This dataset provides the latest reported value for - Australia Corruption Rank - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The Gross Domestic Product per capita in Australia was last recorded at 60082.01 US dollars in 2024, when adjusted by purchasing power parity (PPP). The GDP per Capita, in Australia, when adjusted by Purchasing Power Parity is equivalent to 338 percent of the world's average. This dataset provides - Australia GDP per capita PPP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In 2025, Luxembourg was the country with the highest gross domestic product per capita in the world. Of the 20 listed countries, 13 are in Europe and five are in Asia, alongside the U.S. and Australia. There are no African or Latin American countries among the top 20. Correlation with high living standards While GDP is a useful indicator for measuring the size or strength of an economy, GDP per capita is much more reflective of living standards. For example, when compared to life expectancy or indices such as the Human Development Index or the World Happiness Report, there is a strong overlap - 14 of the 20 countries on this list are also ranked among the 20 happiest countries in 2024, and all 20 have "very high" HDIs. Misleading metrics? GDP per capita figures, however, can be misleading, and to paint a fuller picture of a country's living standards then one must look at multiple metrics. GDP per capita figures can be skewed by inequalities in wealth distribution, and in countries such as those in the Middle East, a relatively large share of the population lives in poverty while a smaller number live affluent lifestyles.